I tend to agree with this. Our college system is completely diluted. Almost anyone can get a college degree now if they're willing to borrow the money to pay for it. The government provides credit to people who aren't mature enough to understand the consequences of what they're doing. The colleges have continued to raise tuition as long as they know students can borrow enough to cover it. It's a mess.
That's because we don't mandate life skills in primary education such as finance. That would undermine the higher education Ponzi scheme.